Throwing investment advice of eminent experts such as the LA Times editorial board and former GM CEO Ed Whitacre in the wind, the Treasury will not sell its holdings in GM as recommended, but hold on to the stock. Why? For the same reasons that prompt smaller scale investors to hold on: The Treasury “expects the stock to rise in the future due to a roll-out of several new vehicles,” people familiar with Treasury’s thinking told Reuters. (Read More…)
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Today, GM and its Chinese joint venture partner SAIC opened what GM China President Kevin Wale called “China’s largest proving ground.“ The test track west of Shanghai did cost about $252.5 million, Reuters says. Automakers are busy turning China into test track central, but Milford may be passed by a German track. (Read More…)
As the Friday workday winds down, we’re still without an agreement between the CAW and Chrysler. Ford and GM are waiting on ratification by the CAW members at their plants, and it’s looking more and more like Ken Lewenza and the Canadian Auto Workers were able to outmaneuver Sergio Marchionne.
The next Acura RL will debut at the Los Angeles Auto Show. Here’s what it won’t have; Rear-wheel drive, a V8 engine, non-derivative styling, an endorsement from Harrison Ford and the gyroscope-based navigation system that debuted on the first generation car. Here’s what it will have.
A consortium of major Japanese companies, along with a government-backed turnaround fund snapped chipmaker Renesas away from what they deemed as certain doom on the hands of the American private equity fund Kohlberg Kravis Roberts (KKR). The Nikkei [sub] reports in a flash message that the consortium that includes all three major Japanese automakers has put together a $13 billion package to block a purchase by KKR. (Read More…)
Hey kids! Are you feeling nostalgic for the old Celebrity Eurosport? Well then — line right up!
Always good for a surprise, Fiat CEO Sergio Marchionne made an unusual announcement. Not only did he tell everybody that Fiat will receive government financing and tax breaks from Brazil, he also said when he received similar help from Italy: A ver long time ago. (Read More…)
Being at odds with its number one trading partner Japan at the moment, China shows that it doesn’t have to be the big bully, and that it can make nice with other former enemies if it feels like it. China gave a surprising regulatory nod to a joint venture between Tata-owned Jaguar Land Rover and Chery. If you think they were long married, then you are right. They said yes a while ago. However, in China, a joint venture is not really a joint venture unless the National Development and Reform Commission (and sundry other bureaucracies) have given their nod, and did put their chop on the contract. (Read More…)
Here’s the thing about going retro: like movie sequels, the original is usually far, far superior. But unlike sequels, we operate a vehicle outside of the lens of historical significance. Most of us need an automotive appliance to do our jobs. If you need a new ride, how do you roll? In a modern take of a classic, complete with CUV-sized dimensions and proportioning, that’s how!
One of the few exceptions (outside of rich people price points) is the Scion FR-S, which is the subject of my next Vellum Venom. So consider this a tease: enjoy the “bulk” of owning retro in our current age of fat CUVs, insane Energy Drinks, Hot Yoga and Gluten-free diets!
Toyota trucks have long been the staple of practical truck shoppers, young shoppers looking for a cooler first ride, off-roaders and just about every rebel militia. What’s a company like Toyota do to keep sales of the 8-year-old truck going? Special editions of course. Despite the higher profits, Toyota decided to skip the “freedom fighter” […]
Just to pre-empt the inevitable; you could go out and buy a 25 year old Honda CRX HF and get superior fuel economy to a CR-Z. You could also wind up having your legs amputated after a fender bender, thanks to the wonderful “light weight” construction of the CRX. Now that we’ve got that out of the way, here’s the new Honda CR-Z. Apparently it makes 20 more horsepower from the electric drivetrain. Then again, it may be a moot point since CR-Z imports have slowed to a trickle, thanks to unfavorable exchange rates.
This episode of Generation Why is brought to you by some numbers, not essays on product or marketing efforts. The chart above shows the mean earnings of college graduates with a Bachelor’s degree and full-time employment ages 25-34.
Yes, dear readers, I am happy to announce the Ed Niedermeyer has returned to automotive journalism. Sort of. And not for TTAC. Ed’s essay on the Subaru Outback and the Mini Countryman is perfectly timed for reading over your Friday lunch. Check it out over at Curbside Classic and curse our fearless Editor Emeritus for installing a snot-nosed neophyte like myself into such a hallowed vocation.
My first couple days at TTAC weren’t so much a baptismal by fire, but a surprise dunk in the ice bath by the Best & Brightest. My now-infamous post, where I dubbed the unseen-at-the-time 2013 Ford Fusion as a “gamechanger” based on my embargoed preview of the car in Dearborn, became a punchline for the first month of my tenure. But now I get to gloat. Sort of.
The good old days of late summer 2009.
It was a great time to buy a new car. Monthly new car sales in North America had plummeted to under 10 million units. Access to financing seemed to be near impossible for a lot of consumers. Brands were orphaned. Leasing collapsed. Banks were picky. The future was uncertain and… raw materials were cheap.
It was a good time to buy new at a deep, deep discount. Has that time passed?
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